Broker-dealer firm · Fort Mill, SC
LPL Financial LLC
SEC-registered investment adviser · CRD 6413 · SEC 801-10970
At a glance
LPL Financial LLC is an SEC-registered investment adviser based in Fort Mill, South Carolina, with $819.1 billion in regulatory assets under management as of its Form ADV filed September 21, 2026. Its largest client group by assets is high-net-worth individuals, and it reports 1,962,908 individual clients. By Form ADV it is a broker-dealer firm, ranked 5th of 391 broker-dealer firms and 29th of 17,210 SEC-registered advisers by assets.
Main office 704-733-3300lpl.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $819B
- Rank among broker-dealer firms
- #5 of 391
- Rank among all SEC RIAs
- #29 of 17,210
- Rank in South Carolina
- #1 of 116
- Individual clients
- 1,962,908
- High-net-worth clients
- 671,511
- Accounts
- 2,850,994
- Discretionary
- 100% of AUM
- Employees
- 41,879
- Advisory staff
- 36,280
- Offices
- 20,865
Owners and executives on its Form ADV
- Matthew Jon AudettePresident and Chief Financial Officer
- Richard C SteinmeierChief Executive Officer and Director
- Matthew Klaus EnyediGroup Managing Director, Chief Client Officer
- Judith Kohoskie RickettsExecutive Vice President, Operations and Principal Operations Officer
- Gregory GatesGroup Managing Director, Chief Product & Technology Officer
- Brent Blain SimonichManaging Director, Chief Risk Officer, Head of Business Operations
- Aneri JambusariaGroup Managing Director, Chief Wealth Officer
- Steven Thomas MalfitanoSVP, Finance Capital Management and Principal Financial Officer
- James McHaleExecutive Vice President, Chief Compliance Officer
- Matthew Edwin MorningstarGroup Managing Director, Chief Legal Officer
Custody and brokerage
Custodian
LPL Financial LLC’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
Broker-dealer
Hybrid RIA
LPL Financial LLC is a hybrid RIA: 32,010 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Commonwealth Equity Services, LLC and LPL Enterprise, LLC.
- Commonwealth Equity Services, LLC ↗CRD 8032
- LPL Enterprise, LLC ↗CRD 8733
Its Form ADV brochure (filed July 2026) names LPL Financial and LPL Enterprise as the broker-dealer its advisers are registered with.
IARs may be registered representatives of LPL.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 671,511 | $553B | 67% |
| Individuals | 1,291,397 | $231B | 28% |
| Corporations or other businesses | 8,528 | $14B | 2% |
| Pension and profit sharing plans | 10,450 | $13B | 2% |
| Charitable organizations | 5,086 | $7.6B | <1% |
| State or municipal government entities | 5 | $9M | <1% |
| Other | 13 | $5M | <1% |
Disciplinary disclosures
LPL Financial LLC answers yes to 381 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for businesses and institutions
- Educational seminars and workshops
- Other services
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗lpl.com ↗
AtlasMembers
The full record on LPL Financial LLC
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 174 peers of its type and size
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- Owners and executives, with titles and stakes
- 10 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 4Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does LPL Financial LLC manage?
LPL Financial LLC reports $819.1 billion in regulatory assets under management across 2,850,994 accounts, 100% of it on a discretionary basis, on its Form ADV filed September 21, 2026.
What kind of firm is LPL Financial LLC?
LPL Financial LLC is a broker-dealer firm by its Form ADV answers. The firm is itself registered as a broker-dealer as well as an investment adviser. It reports a bank or thrift among its related persons. A public reporting company controls it.
Who are LPL Financial LLC’s clients?
By assets, its largest client types are high-net-worth individuals ($552.7 billion, 671,511 clients); individuals ($231.4 billion, 1,291,397 clients); corporations or other businesses ($14.1 billion, 8,528 clients).
Does LPL Financial LLC have any disciplinary history?
LPL Financial LLC answers yes to 381 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is LPL Financial LLC’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-09-21), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →